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Aramco’s energy strategy should teach the West a lesson
Opinion
Upstream Saudi Arabia NOCs
Paul Hickin,
Editor-in-chief
London
17 March 2023
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Letter from London: Aramco shows the West how to have it both ways

Saudi NOC has a clear strategy on energy security and the transition, providing a lesson to the often confused West

Saudi Aramco’s energy strategy should teach the West a lesson: invest in hydrocarbons now. Not only is oil and gas crucial for near- and medium-term energy security and affordability, there is also a huge amount of money to be made that can be put towards the transition.   The oil and gas behemoth raised its capital spending by 18pc, to $37.6 bn, in 2022 and has issued guidance of $45–55bn in 2023 as it looks to add 1mn bl/d to its oil capacity by 2027 and to more than double its gas production by the end of the decade. Amin Nasser, head of the world's largest oil producer, has been repeating the same lines: the world is facing a major supply crunch as most companies are reluctant to go agai

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Old hands dominate Algeria’s upstream auction
24 June 2025
The country’s latest licensing round attracted bids from IOCs and NOCs in a better showing than its last outreach to bidders
Angola’s oil industry revamp
24 June 2025
Africa’s second-largest oil producer is creating the right conditions for the sector to try to boost output, explains Ian Cloke, COO of UK-based Afentra
ADNOC targets Santos in big LNG push
24 June 2025
The takeover, if it gets the all-clear from regulators and other government authorities, would propel XRG and its parent firm ADNOC into the top tier of global LNG players
Oil demand ramps up air miles
23 June 2025
Jet fuel will play crucial role in oil consumption growth even with efficiency gains and environmental curbs, with geopolitical risks highlighting importance of plentiful stocks

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